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Share-Based Compensation
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION
The company recognized total expenses of $79.1 million and $76.7 million related to equity-settled share-based payment transactions in the six months ended June 30, 2016 and June 30, 2015, respectively.
The company has not granted share option awards under share-based compensation arrangements since 2005. The awards had a ten-year life; all share options expired at December 31, 2015. Cash received from exercise of share options in the six months ended June 30, 2015 was $1.2 million.
Share Awards
Movements on share awards during the periods ended June 30, are detailed below:
 
For the six months ended June 30, 2016
 
For the six months ended June 30, 2015
Millions of shares, except fair values
Time- Vested
 
Performance- Vested
 
Weighted Average Grant Date Fair Value ($)
 
Time- Vested
 
Performance- Vested
Unvested at the beginning of period
10.4

 
0.6

 
33.62

 
11.5

 
0.5

Granted during the period
6.3

 
0.4

 
27.39

 
3.9

 
0.3

Forfeited during the period
(0.1
)
 
—

 
31.81

 
(0.1
)
 
—

Vested and distributed during the period
(4.1
)
 
(0.2
)
 
31.35

 
(4.4
)
 
(0.2
)
Unvested at the end of the period
12.5

 
0.8

 
31.21

 
10.9

 
0.6



Share awards outstanding at June 30, 2016, had a weighted average remaining contractual life of 1.73 years. The total fair value of shares that vested during the six months ended June 30, 2016 was $118.1 million (six months ended June 30, 2015: $183.5 million). The weighted average grant date fair value of the U.S. Dollar share awards that were granted during the six months ended June 30, 2016 was $27.39 (six months ended June 30, 2015: $40.26).
At June 30, 2016, there was $354.1 million of total unrecognized compensation cost related to non-vested share awards; that cost is expected to be recognized over a weighted average period of 2.77 years.